Holger Zschäpitz is senior editor of the financial desk and market maniac at @Welt and Author of 'Schulden ohne Sühne?' a book on states' addictiveness to debt.
Good Morning from Davos. On day3 of #WEF20 German Chancellor Merkel will speak in Davos for 13th time & as G7's longest-serving leader. She has little time left to change econ fortune of the country before her era as chancellor draws to a close. #Germany has fallen behind France.
#ECB has launched its review of its Mon policy strategy. Review is twofold: Quantitative formulation of price stability, Will also take into account how other considerations, such as fin stability, employment & environmental sustainability, can be relevant
German Chancellor Merkel holds phone call with Spanish PM Rajoy as Catalan govt says 465 people injured by police forces.
Ouch! Italians are poorer today than before the introduction of the euro. It is the only major economy in the euro zone where per capita personal disposable income is below the 1998 level. (Chart via @Lombard_Street )
Just to put things into perspective: The average US worker must now work 126 hours to buy 1 share of S&P 500. That's a fresh record. In the 1980s, it took less than 20 hours. (Idea via @HirudoStreet )
#Brazil President Bolsonaro disappoints w/speech at #WEF19 the Davos crowd & fin mkts. Brazil Real drops 0.5% as he just touts reform "credibility" in a speech that has no substance & credibility. Investors had been looking for concrete measures on pensions, sale of state assets.